Don't the Adventists still "officially" recognize 1844 as some sort of key date, even though they don't publicize it much any more?
Seems to me the Society could do something similar - even though the date 1914 is increasingly receding into the background, they could still occasionally reference it. I'm sure it will virtually disappear from the "1st of the month, for the public" WTs beginning in 2008.
They already kind of do something like this now - whenever they have an article trying to "prove" we are in the last days, they point to world events as more of a "proof" than their tortured chronology. The chronology is currently in more a "supporting" role.
On the other hand, there will likely be some sort of repercussion as the 100th anniversary of the date draws near. They will be forced to "commemorate" it some way, much as they did with the July 1 1979 Watchtower mag. And drawing JWs attention to it could very well have a huge negative impact on the R&F (did Jesus prophesy about "the last days" or "the last centuries"?).
If they're smart, they'll just kind of quietly push 1914 into the background. However, their decsions of late seem to be remarkably stupid and short-sighted*, so who knows what will happen?
* Examples: "Let's discourage any advanced education whatsoever, thus ensuring that any few JW youth who remain in the org. will be poor and frustrated...let's intentionally murk up our teachings on blood, blood fractions, and transfusions...let's lay the hammer down on associating with D-F'ed relatives...let's bore long-term JWs out of their minds by studying the Revelation book for the 4th time, even though virtually every page will require some sort of 'adjustment'...blah blah blagggh"